The Impact of Seasoned Equity Offerings Announcement on Stock Prices: BCG Matrix

• Main Authors: WU, YUNG-CHEN, 吳永鎮
• Other Authors: CHANG,CHUN-PO
• Format: Others
• Language: zh-TW
• Published: 2016
• Online Access: http://ndltd.ncl.edu.tw/handle/40963414417385022551

碩士 === 大葉大學 === 管理學院碩士在職專班 === 104 === Previous studies have pointed out that Taiwan stock market seasoned equity offerings has a significantly announcement effect. This finding is opposite from the situation that U.S. seasoned equity offerings has a negative effect. Seasoned equity offerings is one of the main financing means for Taiwan’s capital market. In the academia, many issues discuss the effect of seasoned equity offerings on company share price earnings. Results of previous studies mostly support seasoned equity offerings has a negative impact on business operations. Whoever, many companies still have a preference for financing through seasoned equity offerings. Therefore, this study discussion targets the effect of seasoned equity offerings on company share price earnings. In particular, the problem quadrant has the greatest impact. As far as long-term performance is concerned, the long-term share price of the dog quadrant after the seasoned equity offerings announcement shows a positive reaction. On the contrary, in cow, problem and star quadrants show positive and negative reactions in part.